"Selecting the perfect tenant for your investment property? Here's how to find the cream of the crop!"
Rebecca Halton
?? CEO of LJ Hooker WA’s number 1 office, ensuring our customers have an amazing experience with us. Property Management, Investors and Sales - all things Real Estate. SPEAKER 0448843311
Selecting the best tenant for your investment property is an important decision that can impact your rental income and property value. Here are some steps you can take to find the best tenant:
1. Screen all applicants: You should have a rental application process in place to screen all potential tenants. This should include verifying their income, checking their credit history, and conducting a background check.
2. Check references: It is important to speak with the tenant's current and past landlords to verify their rental history, including whether they paid rent on time and if there were any issues during their tenancy.
3. Look for stable employment: A tenant with a stable job and income is more likely to pay rent on time and take care of the property.
4. Consider their lifestyle: Consider the tenant's lifestyle and whether it is compatible with your property. For example, if your property is in a quiet neighborhood, you may not want to rent to someone who likes to have loud parties.
5. Trust your gut: Ultimately, you should trust your instincts when selecting a tenant. If something doesn't feel right, it's better to wait for a more suitable tenant to come along.
By taking these steps, you can find a tenant who is reliable, responsible, and compatible with your investment property.